What happens with the finances on divorce?
The end of a relationship or marriage can be an extremely emotional and stressful time. It may be difficult for you to make decisions to ensure that you protect the future for you and your family. Sorting out money is, for most couples, the most daunting part of separation and divorce.
Grounds for Divorce - ‘Unreasonable Behaviour’
To file for divorce you need to prove there has been an irretrievable breakdown in your marriage and ‘unreasonable behaviour’ serves as one of the five grounds for divorce.
Unreasonable behaviour varies from person to person but examples of the types of unreasonable behaviour often cited within Divorce Proceedings are as follows:
What is Spousal Maintenance?
Part of the divorce process requires you both to come to an agreement on financial matters; how assets and debts will be divided, and what maintenance payments (if any) are required to be paid.
Spousal maintenance provides some financial security for the spouse who is unable to support themselves without additional support payments.
Moving on from domestic violence
Official crime figures reveal that 30% of women are affected by domestic violence at some point in their life. In the past year, 7% of women and 4% of men have been victims of domestic violence.
Domestic abuse happens when one person hurts another in the same family, married or unmarried, with or without children, divorced or separated.
Matrimonial Home Rights – What are they?
For most people, the home that they share with their spouse, and possibly their children, will be their single most valuable asset. It is extremely common, for panic to set in when a marriage breaks down if the property is held solely in the name of your spouse. We appreciate that this can leave some parties feeling extremely vulnerable and frightened of what their rights are. Please rest assured, at the very least, you will have matrimonial home rights in the property, which mean that you are allowed to occupy the property without being disturbed. You may also be entitled to a share in the equity even though your name is not registered at the Land Registry.